Saturday 17 October 2026
Export GTN’s income statement to Excel — free account
Gray Media Inc.
GTN Communication Services Broadcasting
Gray Media Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, down 15.1% from fiscal 2024. In the quarter to June 2026, revenue grew 8.68%, EPS grew 120.1%, free cash flow grew 2,750.0% and total debt rose 3.90%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
4.38
0.08
−1.79%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
7 | 5 | 5 | 5 | 8 | 4 | 8 | 4 | 7 | 3 |
P/E ratio |
12.49 | 4.79 | 6.14 | 16.75 | 4.73 | 50.40 | 2.52 | 0.00 | 0.93 | 0.00 |
Altman Z-Score |
0.90 | 1.15 | 1.15 | 0.97 | 1.16 | 0.63 | 0.90 | 0.64 | 0.82 | 0.63 |
P/S ratio |
0.97 | 1.38 | 1.20 | 1.00 | 0.72 | 0.79 | 0.28 | 0.26 | 0.08 | 0.15 |
P/FCF ratio |
4.43 | 8.41 | 4.95 | 4.02 | 3.17 | 3.38 | 2.59 | 2.75 | 0.49 | 2.59 |
Altman Z″-Score (non-manufacturers) |
1.60 | 2.30 | 2.45 | 1.55 | 2.41 | 1.12 | 1.57 | 0.96 | 1.38 | 1.10 |
P/Operating CF |
7.38 | 18.57 | 9.47 | 16.33 | 10.47 | 112.66 | 4.37 | 10.12 | 0.81 | 4.19 |
Beneish M-Score |
(2.60) | (2.08) | (2.62) | (1.44) | (2.60) | (2.25) | (2.45) | (3.06) | (2.71) | (2.90) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 37 |
P/B ratio |
1.60 | 1.23 | 1.09 | 1.45 | 0.98 | 1.09 | 0.48 | 0.43 | 0.13 | 0.22 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
2.74 | 2.94 | 2.97 | 2.65 | 2.07 | 3.51 | 2.02 | 2.13 | 1.59 | 1.89 |
EV/EBITDA |
6.84 | 6.47 | 6.48 | 7.60 | 4.84 | 12.75 | 5.25 | 8.57 | 4.97 | 8.33 |
EV/Operating CF |
10.58 | 14.41 | 9.96 | 14.58 | 7.55 | 28.27 | 8.94 | 10.77 | 7.70 | 20.23 |
EV/FCF |
12.51 | 17.89 | 12.28 | 10.63 | 9.09 | 14.98 | 18.86 | 22.81 | 9.52 | 32.30 |
Quick Ratio |
3.95 | 4.83 | 5.67 | 2.53 | 4.78 | 2.17 | 1.79 | 0.97 | 0.91 | 1.12 |
Current Ratio |
4.23 | 5.08 | 5.82 | 2.73 | 5.11 | 2.51 | 2.10 | 1.18 | 1.03 | 1.27 |
Net Debt/EBITDA |
4.40 | 3.43 | 3.79 | 4.72 | 3.15 | 9.87 | 4.53 | 7.54 | 4.72 | 7.66 |
Debt/Assets |
63.82% | 56.35% | 60.50% | 53.11% | 52.09% | 60.81% | 57.88% | 57.89% | 53.32% | 55.02% |
Debt/Equity |
3.56 | 1.85 | 2.15 | 1.75 | 1.66 | 2.81 | 2.33 | 2.35 | 1.92 | 2.05 |
Asset Turnover |
0.33 | 0.29 | 0.29 | 0.38 | 0.33 | 0.26 | 0.33 | 0.30 | 0.34 | 0.30 |
Operating CF/Net income |
3.37 | 0.69 | 1.53 | 3.03 | 1.82 | 7.89 | 2.06 | (5.06) | 2.33 | (2.11) |
Capex/Depreciation |
(0.36) | (0.32) | (0.57) | 0.55 | (0.41) | 0.94 | (1.04) | (0.79) | (0.46) | (0.35) |
Interest Coverage |
2.41 | 3.05 | 3.64 | 2.11 | 3.94 | 1.86 | 2.80 | 0.87 | 1.75 | 0.83 |
| 13.51% | 35.27% | 19.36% | 9.58% | 22.26% | 2.17% | 20.81% | (6.26%) | 15.19% | (6.17%) | |
| 2.55% | 8.71% | 5.65% | 2.27% | 4.90% | 0.41% | 3.62% | (1.17%) | 3.05% | (1.31%) | |
ROIC |
7.61% | 7.65% | 7.92% | 5.33% | 8.38% | 2.65% | 6.75% | 2.73% | 6.32% | 2.99% |
Return on Tangible Assets |
8.74% | 29.57% | 19.43% | 11.03% | 20.04% | 2.18% | 21.06% | (7.65%) | 20.30% | (8.31%) |
Average Days of Receivables |
65.95 | 70.78 | 61.96 | 70.70 | 68.37 | 97.57 | 66.72 | 40.38 | 34.36 | 24.88 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
4.96% | 3.62% | 3.78% | 4.90% | 2.73% | 6.59% | 2.83% | 3.41% | 2.85% | 3.65% |
Intangible Assets out of Total Assets |
0.68 | 0.68 | 0.52 | 0.79 | 0.71 | 0.79 | 0.77 | 0.79 | 0.78 | 0.78 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.19% | 0.25% | 0.33% | 0.24% | 0.91% | 0.60% | 0.71% |
Graham Net Nets |
(2.23) | (1.31) | (1.66) | (1.97) | (2.29) | (4.04) | (7.39) | (8.99) | (23.62) | (14.87) |
Graham Number |
11.63 | 32.68 | 26.99 | 20.64 | 39.41 | 12.90 | 47.66 | 0.00 | 42.88 | 0.00 |
Earnings Yield |
8.01% | 20.90% | 16.28% | 5.97% | 21.13% | 1.98% | 39.62% | (15.22%) | 107.94% | (29.34%) |
Free Cash Flow Yield |
22.58% | 11.89% | 20.20% | 24.88% | 31.56% | 29.55% | 38.55% | 36.43% | 203.17% | 38.55% |
Revenue per Share |
11.31 | 12.10 | 12.32 | 21.43 | 24.80 | 25.40 | 39.96 | 35.66 | 38.36 | 31.91 |
Operating CF per Share |
2.92 | 2.47 | 3.67 | 3.89 | 6.79 | 3.16 | 9.01 | 7.04 | 7.91 | 2.98 |
Capex per Share |
(0.45) | (0.48) | (0.69) | 1.44 | (1.15) | 2.80 | (4.74) | (3.72) | (1.51) | (1.11) |
Free Cash Flow per Share |
2.47 | 1.99 | 2.98 | 5.33 | 5.65 | 5.96 | 4.27 | 3.33 | 6.40 | 1.87 |
Cash per Share |
4.53 | 6.33 | 7.58 | 2.14 | 8.05 | 1.99 | 0.66 | 0.23 | 1.42 | 3.79 |
Shareholders Equity per Share |
6.86 | 13.60 | 13.49 | 21.35 | 25.03 | 25.34 | 30.07 | 28.49 | 30.87 | 28.92 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
6.86 | 13.60 | 13.49 | 21.35 | 25.03 | 25.34 | 30.07 | 28.49 | 30.87 | 28.92 |
Free Cash Flow |
177.68 | 145.00 | 262.00 | 528.00 | 542.00 | 566.00 | 393.00 | 306.00 | 608.00 | 181.00 |
Working Capital |
386.08 | 535.45 | 723.00 | 426.00 | 1,049.00 | 579.00 | 448.00 | 73.00 | 14.00 | 140.00 |
Capital Expenditures |
(32.40) | (35.00) | (61.00) | 143.00 | (110.00) | 266.00 | (436.00) | (342.00) | (143.00) | (108.00) |
Net Current Asset Value |
(1,754.16) | (1,601.20) | (2,153.00) | (4,186.00) | (3,936.00) | (7,738.00) | (7,529.00) | (7,551.00) | (7,068.00) | (6,979.00) |
EV/EBIT |
9.49 | 8.95 | 8.27 | 11.74 | 6.55 | 22.26 | 7.49 | 18.22 | 6.80 | 14.91 |
Capex to Sales |
0.04 | 0.04 | 0.06 | (0.07) | 0.05 | (0.11) | 0.12 | 0.10 | 0.04 | 0.03 |
Price to Operating Income |
3.36 | 4.20 | 3.33 | 4.44 | 2.28 | 5.03 | 1.03 | 2.19 | 0.35 | 1.20 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.28 | 0.32 | 0.29 | 0.36 | 0.36 | 0.24 | 0.29 | 0.27 | 0.20 | 0.21 |
Cash ROIC |
6.90% | 4.40% | 5.95% | 8.76% | 7.57% | 6.05% | 4.23% | 3.48% | 7.00% | 2.03% |
Accounts Receivable Turnover |
6.06 | 5.55 | 6.10 | 7.13 | 5.56 | 4.42 | 5.58 | 6.34 | 10.32 | 11.17 |
Accounts Payable Turnover |
97.05 | 85.21 | 75.25 | 147.26 | 132.57 | 46.67 | 39.44 | 61.10 | 27.12 | 15.66 |
Inventory Turnover |
32.76 | 38.48 | 39.73 | 69.95 | 56.82 | 54.58 | 72.52 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
4.04 | 5.13 | 4.90 | 2.87 | 2.62 | 13.38 | 8.93 | 3.52 | 23.42 | 22.52 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
134.14 | 159.02 | 177.62 | 297.50 | 428.50 | 545.50 | 658.50 | 517.50 | 353.00 | 277.00 |
Average Payables |
4.89 | 6.55 | 7.92 | 9.50 | 10.50 | 34.50 | 57.00 | 39.00 | 88.50 | 149.00 |
Average Inventory |
14.50 | 14.50 | 15.00 | 20.00 | 24.50 | 29.50 | 31.00 | — | — | — |
Average Assets |
2,440.11 | 3,006.68 | 3,736.93 | 5,592.50 | 7,307.50 | 9,375.50 | 11,130.00 | 10,896.00 | 10,591.00 | 10,491.00 |
Average Common Equity |
461.07 | 742.88 | 1,089.95 | 1,325.50 | 1,608.50 | 1,755.00 | 1,936.50 | 2,043.50 | 2,127.00 | 2,219.00 |
Columns are period end dates